John Lyons (Dublin North West, Labour)

I commend Deputy Derek Nolan for his remarks. I could not put it better, but I will try to add to what he said.

I welcome the news that the promissory note payment for this month has been delayed. It is an understatement to say this is good news. It is evidence that our strategy of patient engagement with our EU partners is working. As we are dependent on others to finance our deficit, we do not have the option to act unilaterally. This decision shows we are following the right path in the best interests of the country and the people.

Listening to the debate on the motion last night and today I heard calls for an honest debate on the treaty and its merits from Sinn Féin, as well as calls not to frighten people. If anyone rewound the video, last night we heard calls from Sinn Féin peppered with references to the treaty as an austerity treaty with a blackmail clause. If that is not frightening the people, I do not know what it is.

I support one section of the motion which calls for a debate on the merits of the treaty which I see as being about our responsibilities in a common currency area. This is our currency, the one we use daily and that is in our pockets to pay our bills and mortgages and for our kids' lunches at school. It is in our interests for the euro to be dependable and speculation about its imminent collapse to no longer be daily news. That is what the treaty is about; it is as important for the personal finances of the people as it is for those who make investment decisions based on the future stability of a currency. We should all remember this. Our objective should be to avoid ever needing a bailout in the future. That means following policies that allow for growth, which is the intention of the Government. If, however, we need it through no fault of our own, it is a no-brainer that we have access to ESM money.

Let us look at the future options available to us based on our current situation. We are in a funding programme under which we receive loans from the troika, which includes our European partners. If we did not have access to these loans, we would be at the mercy of markets that are extremely hostile to countries with large deficits and a growing debt. We should remember this lesson, as we still have a funding requirement beyond the years of the troika programme. Sinn Féin states that if we reject the terms and conditions applied, we should still be allowed to access ESM money or use the veto to remove the clause. Saying we should have the option to use the veto in a situation where 12 nations have ratified the treaty is the wrong call. The rules of the treaty are set down in the revised Stability and Growth Pact of 2011. Through the golden rule, the deficit rule is made explicit. The reality is that Ireland must follow these rules; therefore, we should avail of the option of accessing ESM funds. Let us remember that we have a common currency and shared interests and that playing a poor hand when the rules have already taken effect is not the answer to our problems. Stability and growth provide the answers and should be our priorities.

We have and will continue to plan for growth, but we cannot make assumptions about our future. As no one here has a crystal ball, we must keep our options open. The policy advocated by Sinn Féin that we demand access to common funds or use the veto, even if the referendum result is negative, is unlikely to get us far. That is why I will be voting against the motion.

I stood for election because of the state of the country. I gave up a job I absolutely loved to come here where my daily job involves a lot of people blaming me as a politician for everything. I am absolutely sick and tired of the negativity when there is positivity. I am sick and tired of the rubbish from certain Members of the House in seeking to dampen positive news. It is inherently wrong to be negative when there are positive things happening. This has been the best day since the Government took office one year ago. This shows the economy is moving forward. We are not there yet, but it is a significant step forward. It is a shame, however, that there are people who have come here today to play with words, saying this is not a good day. We only need look at what happened during Leaders' Questions when there was not one positive word, except from Deputy Shane Ross, about the steps taken by the Government. If we are interested in the people who elected us, let us be honest with them and say this is a bloody good day.

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